Posted on 04/14/2024 8:35:35 AM PDT by SeekAndFind
We have already run into the problem of not being able to sell our Treasuries, and we issue debt. In 2008, the administration started Quantitative Easing (Q.E.), whereby the Federal Reserve printed U.S. dollars to buy U.S. Treasuries. Because no other nation wanted to buy our debt.
Instead of heeding this dire warning, our government issued $8 trillion in new debt — debt that you have to repay. Remember that federal debt = federal spending. The market warned us once in 2008; it is warning us again.
Just don’t try to explain that the higher interest you pay reduces your ability to buy ANYTHING on credit if you don’t have the cash.
AND the Federal Government has to pay MORE interest to make payments on the debt they can’t afford with YOUR money.
Soooooo, the Federal Government will have to tax you MORE just to pay the interest on the debt that they really can’t pay....
So, raise interest rates......LOL
We are Argentina...shortly.
At least Argentina has a decent leader now.
[Instead of heeding this dire warning, our government issued $8 trillion in new debt — debt that you have to repay. Remember that federal debt = federal spending. The market warned us once in 2008; it is warning us again.]
2008 is coming. Again.
Brother, can you spare a wheelbarrow?
I’m trying to load up some cash to go buy a loaf of bread under Joe Biden.
And voting works ……
To make things look better, I drew this fat line going up.
George Bush never thought of that!
HEY! I’ve got an idea. Let’s SPEND OVER ONE HUNDRED BILLION DOLLARS on the UKRAINE PROJECT!
Yeah, that’s the ticket.
Bkmk
Woohoo!!
I yearn for the old days when the Chair of the House Appropriations Committee kept a lid on spending, I mean a lid on corruption.
It’s sad when I trust Wilbur Mills and Dan Rostenkowski more than I trust China Mitch and whoever happens to be Speaker.
With not even a pretense of a budget, these continuing resolutions offer corruption never imagined by petty thieves like Mills and Rostenkowski.
All fueled by the phony fear of a gubmint shutdown.
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.”
“We are Argentina...shortly.”
“At least Argentina has a decent leader now.”
$$$$$$$$$$$$$$$$$$$$$
I’d rather be in a deep hole with great leadership and a plan and a mindset to get out of it, than in a smaller hole that only promises to get deeper with no plan to get out, and led by a senile, pedophilic, warmongering corruptocrat.
The pics and vids of Milei meeting with Musk in the last couple days were awesome.
https://twitter.com/eduardomenoni/status/1778876652425986427
yet we have the best crappiest money in the world. What does that tell us.
WE are in very dire straights. Biden has created a monster that is self-perpetuating. It will not end with him. I’m not at all sure it can ever end except that it is unsustainable. Financial ruin is all that will stop it. Default, collapse and ruin.
“national debt = federal spending”
That one’s not true but he goes on to say,
“Federal spending in excess of tax revenue = debt.”
That one is true but I’d say “taking on debt.”
He says,
“we are being placed into debt against our will.”
In the final analysis not true because we elect our leaders.
But once we are deceived into allowing the borrowing, we are on the hook to pay it off, no getting out of that.
I haven’t checked lately. Is tax revenue only a small portion of federal spending?
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